The demand for protein food such as meat, milk, and eggs across the different geographies expected to drive the market for veterinary pharmaceuticals across the globe. Moreover, the rising demand for meat prompt the cattlemen and slaughterhouses to adopt good hygienic practices to provide better healthcare to the cattle and livestock animals, which projected to boost market revenue growth of veterinary pharmaceuticals over the forecast period. As per UN Food and Agricultural Organization (FAO) estimates that animal protein production such as poultry, beef, swine are expected to double, as well as dairy, and fish production anticipated to grow triple by 2050.

Limited Research and development activities dampening the market revenue growth

Veterinary pharmaceutical market growth expected to hinder owing to the dearth of research and development activities and limited new drug approvals in the recent times. Players in the market focusing majorly on building an existing portfolio that may lead to product maturity in near-term and that may hamper the market growth over the forecast period. Moreover, competition from generic players and OTC drugs are hindering the market revenue growth

Currently, North America market leads the global veterinary pharmaceuticals market and projected to remain same over the forecast period owing to rising consumption of protein food. Europe veterinary pharmaceuticals market holds a significant share in global veterinary pharmaceuticals market and projected to grow at significant CAGR.

 Veterinary pharmaceuticals market expanding at 6.2% CAGR over 2017 to 2023 to reach market value of US$ 25.9 Bn by 2023
 Based on product type antimicrobials accounted for larger market revenue share in 2016 and projected gain larger market revenue share over the forecast period
 Veterinary pharmacies distribution channel is the prime source for veterinary pharmaceuticals across the globe and expected to remain attractive over the forecast period
 Players focusing on launching products to retain market position in global veterinary pharmaceuticals market
Key Features of the Report:

 The report provides granular level information about the market size, regional market share, historic market (2012-2016) and forecast (2017-2023)
 The report covers in-detail insights about the competitors overview, company share analysis, key market developments, and their key strategies
 The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
 The report tracks recent innovations, key developments and startups details that are actively working in the market
 The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
 The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porters Five Force Analysis in addition to recent technology advancements and innovations in the market
Detailed Segmentation

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